Please see, respectively, “Sole Director”, “Joint and Several Directors”, “Joint Directors” and “Board of Directors” below for a more in-depth description of each structure, including how to change the respective board members.

For a description of how to change the respective board members, please see the individual steps below. As all information on how to change board members in
Spain on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents
or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice
before actually changing any board members in Spain.

Pursuant to the Spanish Corporations Act, a Joint Stock Corporation (in Spanish: “Sociedad Anónima”) must have one of the following organisational structures:

A Sole Director (in Spanish: “Administrador Único”) only.

2 or more Joint and Several Directors (in Spanish: “Administradores Solidarios”) only.

2 Joint Directors (in Spanish: “Administradores Mancomunados”) only.

A Board of Directors (in Spanish: “Consejo de Administración”) only.

Please see, respectively, “Sole Director”, “Joint and Several Directors”, “Joint Directors” and “Board of Directors” below for a more in-depth description of each structure, including how to change the respective board members.

For a description of how to change the respective board members, please see the individual steps below. As all information on how to change board members in
Spain on the LCB Site by nature is generic (i.e. does not include specific requirements for listed companies, special requirements in statutory documents
or as otherwise stipulated in any type of special law), we strongly recommend seeking legal advice
before actually changing any board members in Spain.

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Benow Partners has provided all input about changing board members in Spain.

We are a multi-disciplinary, dynamic, rigorous and approachable law firm with a strong international experience in numerous jurisdictions. We advise our clients in almost all areas of Law and identify ourselves with their projects and interests. We look for the highest efficiency for the client and we expect to build long-term relationships, adding value to their activities.

For more information about Benow Partners and changing board members in Spain, please contact our Partner directly.